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In the wake of legislations like the #GermanSupplyChainAct and EU's #CSDDD, supply chain due diligence (SCDD) is more important than ever.   In addition to large German companies that are directly impacted by these regulations, smaller companies in India and across the globe must also meet the human rights standards extended by their business partners.   Equipping employees with the right training empowers companies to effectively implement internal policies and processes that address supply chain due diligence. This proactive approach not only fulfills compliance and business requirements but also positions your company for competitive advantage in the international market.   ⚙️ Through the Supply Chain Due Diligence Manager Certification Course, the Indo-German Chamber of Commerce supports companies to implement SCDD proactively. The 6-week hybrid course converts requirements of the law into practical management steps — helping companies to meet regulatory requirements and drive sustainable growth.   🚀 Elevate Your Expertise Now! Course begins July 2024.   Course details: https://lnkd.in/dQCYJwhX Enroll here: https://lnkd.in/d4r34erK   Last date for registrations: 25 June 2024. IGCC SustainMarkets - #IndoGerman #PartnerforSustainability #Training #Skilling #SupplyChain #LkSG #BHR #SupplyChainDueDiligence #SustainabilityTraining #EthicalBusiness #SCDDManager #Certification #SupplyChainManagement #CorporateResponsibility #ComplianceTraining #SustainableGrowth #HumanRightsDueDiligence #SustainabilityDueDiligence #RegulatoryCompliance #SupplyChainRisk #SustainabilityCourse #SupplyChainEthics #ResponsibleBusiness #SustainableSupplyChains #BusinessCompliance #ESG #SupplyChainTransparency #CorporateSustainability

𝗖𝗦𝗗𝗗𝗗 𝗛𝗮𝘀 𝗖𝗼𝗺𝗲 𝗜𝗻𝘁𝗼 𝗙𝗼𝗿𝗰𝗲 🇪🇺: 𝗬𝗼𝘂𝗿 𝗖𝗼𝘂𝗻𝘁𝗱𝗼𝘄𝗻 𝗦𝘁𝗮𝗿𝘁𝘀 𝗡𝗼𝘄 The future of corporate accountability has arrived: the EU Corporate Sustainability Due Diligence Directive (#CSDDD) is now in force! 🏛 The goal? Over the next 𝟭𝟬𝟵𝟰 𝗱𝗮𝘆𝘀, companies and #EU governments will train supervisors and optimise supply chains, ensuring robust due diligence processes and corporate accountability. 👎The reality? 𝗠𝗼𝘀𝘁 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗮𝗿𝗲 𝗻𝗼𝘁 𝗿𝗲𝗮𝗱𝘆 𝘁𝗼 𝗶𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁, 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗳𝗮𝗰𝗲 𝘀𝘂𝗯𝘀𝘁𝗮𝗻𝘁𝗶𝗮𝗹 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀. Many businesses face challenges, especially with mandatory #HumanRights due diligence (HRDD). According to the World Benchmarking Alliance, 80% of the 2,000 most influential companies – many of which must comply with CSDDD – score ZERO on the initial steps to HRDD implementation. Only 9% can demonstrate that they engage with affected or potentially affected stakeholders. ⏰Tick tock. If your compliance strategy isn’t up to scratch, you need to act now. Three years passes faster than you think. If your supply chain is complex, it can take 15–30 months to conduct a thorough risk assessment of your Tier-N suppliers. 🤔 Don't know where to start? Here’s your guide to preparing for CSDDD: ↳ 𝗥𝗲𝗮𝗱. Here’s our comprehensive overview of CSDDD requirements and scope: https://bit.ly/3M08N2B ↳ 𝗪𝗮𝘁𝗰𝗵. We’ve prepared a YouTube playlist that focuses on Navigating the CSDDD Landscape: https://bit.ly/3A7mGsJ ↳ 𝗘𝘅𝗽𝗹𝗼𝗿𝗲. Download our white paper to discover tools and strategies for compliance: https://bit.ly/4cXccLl ↳ 𝗖𝗼𝗻𝘀𝘂𝗹𝘁. Get in touch with a Prewave CSDDD expert to talk through your options: https://bit.ly/3ydSThy #supplychain #duediligence #compliance

The Supply Chain Due Diligence Act entered its second stage of implementation on January 1, 2024. Read our latest blog where we highlight why businesses need to look out for supply chain risks in light of the recent regulatory changes. Learn more about: Who will be affected by lkSG What are your Due Diligence obligations? The steps you can take to comply Read now: https://lnkd.in/e8vPsNGd #GermanSupplyChainAct #EthicalBusiness #StayAhead

Conducting business in Germany? With new mandates introduced in 2024, let’s talk about the German Supply Chain Due Diligence Act #SCDDA. ⤵️

🚀CSDDD Now in Force! As of today, July 25, 2024, the EU's Corporate Sustainability Due Diligence Directive (CSDDD) has officially taken effect, setting a new standard for corporate responsibility across Europe. 🔍 What Is CSDDD? CSDDD requires large companies to diligently identify, prevent, mitigate, and report on their impacts on human rights and the environment throughout their entire value chain, including subsidiaries and business partners. 🏛️ Timeline for Compliance: EU Member States must integrate the directive into national law by July 26, 2026. Companies with over 5,000 employees and €1.5 billion turnover must comply by July 2027. Smaller companies will follow based on specific thresholds. Non-EU companies must focus on their EU turnover. 📜 Key Obligations: Incorporate due diligence into company policies Conduct regular risk assessments Address significant risks and provide remediation Engage with stakeholders and maintain transparent complaint mechanisms Face civil liability for non-compliance 🛡️ Enforcement: National authorities will oversee compliance. A European Network of Supervisory Authorities will be established. Victims will receive compensation for damages from due diligence failures. 📊 Reporting and Action: CSDDD works in tandem with the Corporate Sustainability Reporting Directive (CSRD), ensuring companies manage risks and report transparently on sustainability practices. 🔗 Focus on Supply Chains: Both CSDDD and EU proposals on Value Chain accountability emphasize responsible supply chain management, enhancing corporate accountability for human rights and environmental impacts. Stay tuned for more updates on this transformative step towards a sustainable future! 🌍 #Sustainability #CorporateResponsibility #EURegulations #CSDDD #CSRD

Time is running short ⏳ Just 101 days remaining for companies affected by the German Supply Chain Act. Meaning it's high time to adapt and refine compliance process. Here's a pragmatic approach on how to address the challenges in four steps: https://lnkd.in/eGVr_W-4 #CorporateResponsibility #Compliance #SupplyChainAct #LkSG

🌟 Join us for our next Compliance 360° webinar! 🌟   Compliance 360°: #LKSG vs. #CSDDD - Regulatory Differences and Best Practice Approach for Implementation 📅 Tuesday, June 18th, 2024 🕒 2:00pm CEST   Have you ever wondered how European countries have successfully implemented supply chain laws, ensuring compliance with human rights and environmental standards?   Laws like Germany's #Lieferkettensorgfaltspflichtengesetz (LkSG) (2023) set the foundation for these initiatives. Now, the EU is raising the bar with the new #CorporateSustainabilityDueDiligenceDirective (CSDDD), which expands these requirements. This directive demands deeper visibility, addresses climate change, and broadens human rights considerations with stricter enforcement.   Join us for a webinar where Kathrin Fornahl and Dr. Dr. Lasse Milinski we'll explore these changes and provide practical solutions for integrating updates into your risk management processes.   👉 Register now: https://lnkd.in/eRziXRn9   Don't miss this chance to prepare your company for new regulations!   #webinar #compliance #LKSG #CSDDD #supplychain #riskmanagement #corporategovernance #sustainability #regulation #duediligence

Mapping Efforts to Mitigate Supply Chain Risks: International regulations and guidance continue to emphasize the role of due diligence in mitigating the risks posed by a company’s operations. https://ow.ly/kisQ30sFcqy

From forced labor to foreign influence and product safety, there are a myriad of regulatory trends that manufacturing professionals must understand and take into account when monitoring their supply chains. Read our latest article to learn what and how to prioritize regulatory risk, even beyond Tier 1. #procurement #supplychainsolutions #supplierriskmanagement #supplierrisk https://lnkd.in/guYZfV6d

I’m taking part in the United Nations Global Compact Academy deep dive session on assessing anti-corruption compliance programmes (and so can you). As companies implement various anti-corruption ethics and compliance measures within their operations, it becomes increasingly important to track and analyse metrics, adjusting actions to improve performance against goals, thereby ensuring continuous monitoring and improvement. Measurement of anti-corruption compliance becomes indispensable for companies to not only maintain ethical standards and comply with legal requirements, but also inform investors' decision making, as this information is important for analyzing investment opportunities and risks. If you can’t make the event, watch this space because I’ll be sharing key takeaways from the event, offering insights into effective measurement strategies, key performance indicators, and best practices. TGS fosters a culture of integrity and accountability within organizations, ultimately contributing to the collective fight against corruption. As an international network of independent audit, accounting, tax and legal service firms, we are always looking at: -The importance of anti-corruption compliance measurement to continuously evaluate and improve measures and policies. -Frameworks and methodologies for assessing the effectiveness of anti-corruption compliance programmes. -Suitable key performance indicators and metrics for evaluating anti-corruption efforts. -Harnessing of technology and data analytics in compliance measurement. -How to navigate challenges such as data privacy concerns and evolving regulatory landscapes. #weAreTGS